The vast majority of people in United Arab Emirates are hesitant to purchase property - A recent survey indicated that 76% of individuals would like to have in their possession a new house but they have a lot of doubts about it. About three quarters of people are afraid to do such a purchase mainly because of the high prices of the properties in United Arab Emirates.
In defiance of this, the truth is that the prices of flats and villas in Dubai dropped down from April 2014 to April of the next year almost by 4%.
According to the study, almost half of the people in UAE prefer to rent a house and not have one in their ownership because they’ re not sure if they’ll stay all their life in their country or move somewhere else.
Meantime, almost the one third of the population states that the main reason that stops them of buying a house and prefer renting is the prices. And mainly because they must a give a big deposit in the beginning of the purchase.
The truth is that the amount of all the rents that people give over the years can be equal to the money that they could give to buy property. So residents of United Arab Emirates should reconsider and think what is more beneficial for them, renting or home ownership. For example, a villa in Dubai can cost 6 million dirhams and in the same time the amount of rents of 5 years and more for the same house can be 1.4 million dirhams but in the first case you ‘ll have something very precious entirely yours!